Development Potential

Hi everyone,

I have been reading these forums for some time now and have found them very valuable. So I am hoping somebody can help me with a little more specific information.

I am intrested in finding out ballpark figures for property development. I know this is a bit like how long is a piece of string but here goes anyway.

I am considering the purchase of land and putting approx six units on it in a few years. The main area I have been looking in is Bundaberg in Qld.

I understand there are any number of variables to be considered in a project like this, but I am only intrested in very rough figures at this stage. If someone has done something similar a breakdown of the costs involved ( building costs, council fees, consultant fees etc. ) would be very useful.

I am especially intrested in cost of building and again I know it depends on size, style, quality of fittings etc. etc. But how much should I allow in rough calculations on fesability??

Make a few phone calls in the local area, council, builders. etc and they can give you a rough figure per square metre. The Queensland Master Builders Association may help as well. On the Gold Coast I have heard $800 - $1000 per mtre square but this will vary significantly with quality and local factors - supply/demand, transport.
The other thing to remember is inflation. Government makes it sound good at 3 % pa but in my experience concrete is almost in double figures and timber has a high transport cost in built so do make allowances for the scurge of time, inflation & greed. The wisper is that the strong underlying demand for tradies is easing but rather than a rip, its still a strong outgoing tide.